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How Brexit will affect the UK healthcare market in 2020February 26, 2020After three-and-a-half years of long and often tedious negotiations, the UK finally left the EU on January 31. Despite the official exit date, a long road is ahead for all parties to come to agreement on the official terms of the exit, due by the end of this year, on Dec. 31. During this 11-month period, the UK will continue to follow all EU rules, and its trading relationship will remain the same. It is also during this time that many agreements likely to affect the healthcare market will be negotiated. The Healthcare Technology team at Omdia discusses what has happened over the last few years and what is likely to occur in the next few years.
Healthcare (technology) is on the 2020 presidential ballotFebruary 05, 2020Although the year 2020 has only just begun, it is gearing up to be a monumental year for politics in the United States. From the impeachment trial of President Trump in January and February, to the Democratic Party primaries spanning from February to July, and the presidential election in November, the 2020 agenda is jam-packed. Events throughout the year could have lasting repercussions on the political and economic landscape of the country, nearing the top of the list of Americans concerns is healthcare policy.
How will Artificial Intelligence Impact Medical Imaging in 2020? RSNA 2019 Round-upJanuary 28, 2020The IHS Markit Healthcare Technology team recently attended the annual Radiological Society of North America (RSNA) 2019 meeting in Chicago in December. The general buzz around artificial intelligence (AI) was still very prominent at the show, with vendors showcasing AI integrated software algorithms that promise to reap the rewards to those that invest. This insight provides an overview of the core AI trends witnessed at show, and what 2020 has in store for AI in medical imaging.
Sensors are here to stay: Impact on traditional patient monitorsJanuary 07, 2019Patient care is shifting from curative to preventative care, with investment heavily placed on limiting avoidable adverse events. Patient diagnosis is happening earlier to reduce the impact to the patient, and the subsequent cost to the provider. It is believed that by focusing on monitoring key health indicators, earlier diagnosis will ultimately reduce healthcare expenditure on non-communicable diseases (NCDs), which may have previously gone unnoticed until they required major and costly treatment. Patients are becoming much more involved in the decisions surrounding their own care paths.
MEDICA 2018 Brief – A change is comingDecember 03, 2018IHS Markit recently attended the world’s largest medical trade fair in Dusseldorf, Germany. With an attendance of over 120,000 visitors, the buzz around all things medical was very clear. Attendees ranged from healthcare professionals with a vested interest in learning more about innovative technologies, to dealers looking to establish relationships with new manufacturers.
Patient monitoring: Any signs of a pulse?December 03, 2018There has been a shift change in the patient monitor market, with innovation focused on improving cost efficiency, work-flow, and coverage of patient status. The continual push to monitor a patient status throughout the treatment pathway has increased demand for low-acuity monitoring. This has been further compounded by the increased throughput of patients, in addition to treatment in an ambulatory or outpatient setting. The new IHS Markit ‘Patient Monitors Report – 2018’ outlines the key technological trends in the market, and their subsequent impact on market growth and competitive environment.
Ultrasound companies will highlight three major technology trends this week at European Congress of RadiologyFebruary 28, 2018The 2018 European Congress of Radiology (ECR) kicks off today in Vienna. ECR is one of the leading global events in radiology, and the congress will welcome nearly 27,000 attendees from over 140 countries. Three hundred exhibitors, 50 of which specialize in ultrasound, will display radiology equipment and products, and the largest international companies will host ‘Satellite Symposia’, company-sponsored educational sessions, during the congress. The on-show guide to the congress provides an outline for each Satellite Symposia and shows that ultrasound companies will focus on three technologies during the sessions—fusion imaging, contrast enhanced ultrasound (CEUS), and shearwave elastography. These technologies and their influence on the global ultrasound market are defined and discussed below.
CES 2018 – More than 700 exhibitors focused on digital health, a $21 billion market in 2021January 17, 2018Digital health was a continuing trend at CES 2018 with 26% of exhibitors having an offering within biometrics, health and biotech, sports and fitness, or wearables. Looking at just companies related to digital health, more than 18% of exhibitors were related to consumer-side healthcare. IHS Markit forecasts the global market for digital health will grow from $15.6 billion in 2017 to $21.6 billion during 2021 at a CAGR of 8.5%, rapidly outpacing the traditional medical equipment markets. While much of the show was an evolution from previous years, including sleep monitoring, embedded sensors in clothing, and wrist-worn activity trackers, a few items incorporated broader technology trends such as machine learning, blockchain, medical-related wearables, and home-based diagnostics.
In 2018, Analytics and AI in Healthcare Look to Take Center StageJanuary 04, 2018The 103rd Scientific Assembly and Annual Meeting of the Radiological Society of North America (RSNA) brought together over 50,000 attendees at Chicago’s McCormick Place from November 26th to December 1st, 2017. Companies of all sizes brought their A game to the exhibit floor with leading companies showcasing gargantuan booths filled with the latest and greatest medical imaging technologies.
Three global trends changing the landscape of the medical imaging equipment marketSeptember 20, 2017Growth for x-ray, ultrasound, MRI, and CT equipment will be driven by a variety of unique factors, but several trends will affect future revenues for the entire medical imaging equipment market. Three of these trends—the aging global population, the changing US healthcare culture, and the emergence of healthcare markets in developing nations—are highlighted below and followed by IHS Markit’s advice for capitalizing on these trends.
Outpatient growth drives ultrasound equipment volumesNovember 03, 2016The global ultrasound imaging equipment market is estimated to have been worth $6.16 billion in 2015; an increase of 1.2% from 2014. This rate of growth is lower than previously forecast, which is primarily due to the impact of a strong US dollar and other foreign exchange fluctuations, which affected the sales of foreign US subsidiaries. The market also experienced a period of highly competitive pricing which lowered average sales prices (ASP), particularly in Latin America and Europe. For some vendors, this ASP erosion was further exacerbated by the effects of shifting foreign exchange rates. Stronger growth is predicted for 2016 because of new product launches from Carestream, Fukuda Denshi, Hitachi-Aloka, and VisualSonics (Fujifilm SonoSite), and because of increased volumes in point of care and obstetrics applications. On a unit volume basis, shipments were up by 4% over 2014. The results for 2016 are expected to be closer to a 5% increase. Growth in the market through 2020 is being driven by uptake of mid-range and high-end cart-based systems in both emerging and developed markets for use in traditional applications. Uptake will also be bolstered by further development of the use of compact ultrasound systems in point-of-care (POC) applications.
Qualcomm Life and Philips Healthcare Partner for Personalized Connected HealthcareSeptember 21, 2016At the 5th annual Qualcomm Life Connect conference held in San Diego during August, Rick Valencia (SVP Qualcomm Life) and Jeroen Tas (CEO Connected Care Health Informatics, Philips) delivered keynote presentations concerning a new partnership that seeks to spur forward personalized connected health care from healthy living and prevention to chronic care management and home care—IHS Markit refers to the varied technologies surrounding patient connectivity simply as digital health. The goal in creating the partnership is to leverage each company’s respective capabilities, which includes Philip’s connected health informatics and regulated health care cloud data management and analytics (2net), and Qualcomm Life’s platform for secure, medical-grade device connectivity and integration (HealthSuite). Philips will also enable third party medical devices to connect to HealthSuite.
Apple extends Apple Watch retail presence with Best Buy dealJuly 29, 2015Allowing Best Buy to stock the Apple Watch could expand Apple’s footprint to over 1200 retail locations. Best Buy has over 1000 stores in the United States, which is more than Apple’s 267 shops.. The initial agreement however only includes 300 stores in 2015. As a highly personal product with many strap options, potential customers...
CMS to cover lung-cancer screening with low dose CTMarch 02, 2015The Centers for Medicare and Medicaid Services (CMS) has recently announced plans to provide immediate coverage for the use of low-dose computerized tomography (CT) for lung-cancer screening in the United States.
Apple risks new categories with iPhone 6 phablet and Apple WatchSeptember 09, 2014Apple launches its first wearable -- the Apple Watch -- as well as revitalizing its iPhone range and moving into mobile payments with Apple Pay. Apple's bold new products depend on the continued success of the iPhone to succeed, but with a 2015 availability data, Apple has many things still to do to finish its first generation smartwatch.
AT&T sees new mobile opportunities with Timex's Ironman cellular smartwatchAugust 07, 2014Timex has announced its first 3G-enabled smartwatch, the Ironman One GPS+, and it will work as a standalone device with cellular connectivity. It features four hardware buttons and a touch screen. The smartwatch features a 1.5-inch low power Mirasol colour display and runs on Qualcomm’s Brew platform. It has 4GB of in-built storage and Bluetooth connectivity. Timex claims...
Reduced reimbursement for COPD patient readmissionsJune 25, 2014Despite a number of recent measures to curb healthcare spending in the US, increased expenditure is continuing to rise in order to provide sufficient care to an increasing number of chronically-ill patients. One measure to tackle rising healthcare costs is to reduce reimbursement payments; with an increasing number of patients, payment rates cannot be maintained if healthcare spending is to be addressed.
United States Health Information Exchange Adoption Lags Behind Despite Large InvestmentsFebruary 19, 2014The United States had the largest market for health information exchange (HIE) in the world in 2013. Stimulus dollars allocated toward the advancement of the US healthcare system through the HITECH Act and the governments meaningful use initiative have aided the development of the HIE market in the United States. However, the adoption rate of HIE in the United States continues to lag behind countries in Scandinavia and Oceania.
Obamacare Boosts U.S. Market for Sub-Acute COPD VentilatorsFebruary 13, 2014Spurred by cost-reduction efforts under the Affordable Care Act (ACA), U.S. shipments of ventilators used for hospital patients undergoing sub-acute treatment for chronic obstructive...
U.S. Shipments of Auto-PAP Devices for Treatment of Sleep Apnea to Grow 70 Percent by 2017February 06, 2014U.S. shipments of auto-positive airway pressure (Auto-PAP) devices will grow 70 percent by 2017 over 2013 levels, as healthcare providers look to deliver cost-effective treatment for...